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Handbag sells for $377K at auction

Handbag sells for $377K at auction
Posted at 10:59 PM, May 31, 2017
and last updated 2017-05-31 19:02:02-04

(CNN) - Someone now owns a rare $300,000 diamond-encrusted handbag.

It’s a crocodile diamond Birkin 30 handbag from Hermes.

It features 18 karat white gold and diamond hardware.

Christie's sold it at auction Wednesday for more than  $377,000, shattering the record for the most expensive handbag ever sold at auction.

Christie's estimates just one or two of these bags are made each year, and there's a six-year waiting list to buy a new one.

Christie's says the bag was purchased by an unidentified buyer after 15 minutes of intense bidding.

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